STACO Insurance Exits Nigeria’s Stock Exchange After Licence Withdrawal

By Aduragbemi Omiyale

The securities of STACO Insurance Plc have been delisted from the Nigerian Exchange (NGX) Limited.

The company was removed from Customs Street on Monday, September 21, 2026, according to a circular signed by the Head of the Issuer Regulation Department of the NGX Regulation Limited, Mr Godstime Iwenekhai.

The action followed the revocation of the company’s operating license by its primary regulator, the National Insurance Commission (NAICOM), effective August 3, 2026.

It was further disclosed that the delisting had to happen since STACO Insurance’s securities are no longer considered suitable for continued listing and trading in the market.

“Trading license holders and the investing public are hereby notified that pursuant to the provisions of Clause 14 of the Amended Form of General Undertaking, for Listing on Nigerian Exchange Limited General Undertaking, which states that, The exchange reserves the right to, at its sole and absolute discretion, suspend trading in any listed securities of the Issuer, delist such securities, or remove the name of the Issuer from the daily official list of the exchange with or without prior notice to the Issuer, upon failure of the Issuer to comply with any one or more of the provisions of this General Undertaking, or when in its sole discretion, The Exchange determines that such suspension of trading or delisting is in the public interest, or otherwise warranted.

“The securities of STACO Insurance Plc have been delisted from the daily official

list of Nigerian Exchange Limited (NGX) effective Monday, September 21, 2026, as a result of the revocation of the company’s operating license by its primary regulator, the National Insurance Commission (NAICOM), effective August 3, 2026.

“Consequently, the company’s securities are no longer considered suitable for continued listing and trading in the market,” the disclosure stated.